R&D Research and development, also known as R&D, is the process by which a company works to generate new knowledge that it might use to create new technology, products, services, or systems that it will either use or sell. Types - 1 Basic- Basic research (also known as fundamental research) is focused on improving our understanding of a particular problem or phenomenon through exploration of big questions. 2 Applied - Applied research is also done to acquire knowledge. But unlike basic research, it's done with a specific goal, use, or product in mind. Where basic research is theoretical, applied research is practical, with a focus on finding workable solutions for current problems.
Create new and improved products
Increase business efficiency
Reduce costs
Remain competitive
Secure investment
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